Cardano’s commercialization arm Emurgo has entered into a partnership with Bitkub exchange, the largest crypto exchange in Thailand, and its digital asset education hub, Bitkub Academy.
The collaboration aims to unlock new use cases for ADA and boost broader adoption of the Cardano ecosystem and Web3 in Thailand via educational initiatives and community building.
As part of the alliance, the parties will also cohost Web3 business competitions for talented Thai youth and university students and offer Web3 career opportunities. The Emurgo-Bitkub partnership will explore potential use cases for Cardano initiatives, including stablecoins.
Emurgo is a founding entity of the Cardano protocol and develops products, services, and applications to bolster the blockchain’s growth.
Emurgo’s significance for expanding its solutions footprint locally and regionally, building on the Cardano ecosystem, was underscored by EMURGO CEO Ken Kodama.
“We acknowledge first-hand the increasingly high adoption of usage and blockchain solutions development that exists in Thailand. This multi-layered partnership will open further opportunities, drive education and development, and further cement the position of the Cardano ecosystem in Thailand with Bitkub as the local partner.”
Thailand is currently ranked eighth compared to other countries in the world in terms of crypto user adoption, with more than $100 million in transactions posted between July 2021 and June 2022, per the 2022 Global Cryptocurrency Adoption Index research by Chainalysis.
The Cardano ecosystem could be poised to safely expand and grow dramatically in Thailand as a result of this partnership.
Earlier this month, Cardano released its latest node version, v.1.35.6, which comes with a functionality called Dynamic peer-to-peer (P2P) networking. The new node version reportedly allows bidirectional usage of block-producing nodes and relay nodes, which may protect against failures or malicious conduct.